Differences between
Transafer Transactions
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Remittance Transactions
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1. Refers
between different units in same
Railway, different Zonal Railways in
Indian Railways and between Capital and Revenue accounts.
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1. Refers
between Railways and
other Govt Depts
(Defence, Postal etc) & State Govts.
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2. Heads
operated: Transfer Divisional, Transfer Railways, Transfer Railway Revenue
& Transfer Railway Capital.
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2. Heads
operated: PAO Suspense, AG Suspense, M-Remittances, Reserve Bank Suspense.
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3. The adjustments are made
through issue and acceptance of Transfer Certificates between Accounting units
in same Railway or between two Zonal Railways. Also operation of contra transactions, for
transfers between Capital and Revenue accounts.
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3. The adjustments are made through issue of Advice of Clearance by
the various Accounts Officers and memo of clearance by RBI.
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4. Clearance: Through book adjustments (by preparing Journal entries)
within Railways itself.
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4. Clearance: Adjustments through Reserve Bank of India by operation
of Deposit with RBI Account or Cheque Payments.
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